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The National Economic Council (NEC) on Thursday approved the establishment of a Cotton, Textile and Garment Development Board.
It also okayed new strategies for agribusiness expansion and livestock transformation projected towards generating up to $90 billion by 2035.
These were the resolutions of the 149th NEC meeting held at the Aso Rock Villa, Abuja.
Expressing condolences to the governments and people of Benue and Plateau States over recent killings, NEC also observed a minute of silence for the victims of the attacks.
Other initiatives approved by council included the establishment of the Green Imperative Project (GIP) national office in Abuja and regional offices across the six geopolitical zones, and addressing the crises fuelled by the current system of animal husbandry in the country.
The NEC chaired by Vice President Kashim Shettima, with governors of the 36 states of the federation, governor of the Central Bank of Nigeria (CBN), Minister of Finance, and other co-opted government officials as members, approved the proposal for the establishment of the Cotton, Textile and Garment Development Board.
As the regulatory body for the cotton, textile and garment sector of Nigeria, the board will have governors representing the six geo-political zones, with Ministers of Agriculture and Food Security, Budget and Economic Planning, and Industry, Trade and Investment as members.
The board, when set up, will be domiciled in the presidency, private sector-driven, with representation of the relevant public sector stakeholders.
It will be funded from the Textile Import Levy being collected by the Nigeria Customs Service (NCS).